Christopher L. Gaenzle - Jul 1, 2021 Form 4 Insider Report for PRA Health Sciences, Inc. (PRAH)

Role
EVP, CAO & General Counsel
Signature
By: /s/ Christopher L. Gaenzle
Stock symbol
PRAH
Transactions as of
Jul 1, 2021
Transactions value $
$0
Form type
4
Date filed
7/1/2021, 06:29 PM
Previous filing
Jun 21, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRAH Common Stock Disposed to Issuer -34.5K -100% 0 Jul 1, 2021 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PRAH Stock Option (Right to Buy) Disposed to Issuer -37.5K -100% 0 Jul 1, 2021 Common Stock 37.5K $101.42 Direct F3, F6
transaction PRAH Stock Option (Right to Buy) Disposed to Issuer -16.7K -100% 0 Jul 1, 2021 Common Stock 16.7K $95.94 Direct F4, F6
transaction PRAH Stock Option (Right to Buy) Disposed to Issuer -17.1K -100% 0 Jul 1, 2021 Common Stock 17.1K $103.30 Direct F5, F6
transaction PRAH Restricted Stock Unit Disposed to Issuer -5.65K -100% 0 Jul 1, 2021 Common Stock 5.65K Direct F7, F8
transaction PRAH Restricted Stock Unit Disposed to Issuer -14K -100% 0 Jul 1, 2021 Common Stock 14K Direct F7, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Christopher L. Gaenzle is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Pursuant to the Agreement and Plan of Merger (as it may be amended from time to time) (the "Merger Agreement"), dated as of February 24, 2021, by and among the Issuer, ICON plc ("ICON"), ICON US Holdings Inc. ("US HoldCo") and Indigo Merger Sub, Inc., each share of the Issuer's common stock was converted into the right to receive from ICON, 0.4125 of one ordinary share of ICON, and, from US HoldCo, $80.00 in cash, without any interest thereon (collectively, the "Merger Consideration").
F2 Pursuant to the Merger Agreement, each award of restricted stock of the Issuer that is outstanding immediately prior to the effective time of the merger was converted into the right to receive the Merger Consideration.
F3 The option vests in four equal annual installments of 18,750 beginning on August 10, 2019.
F4 The option vests in three equal annual installments of 8,334 beginning on August 13, 2020.
F5 The option vests in three equal annual installments of 8,556 beginning on June 1, 2021.
F6 Pursuant to the Merger Agreement, each outstanding stock option of the Issuer, whether vested or unvested, as of immediately prior to the effective time of the merger was, at the effective time of the merger, converted into an option to purchase a number of ordinary shares of ICON equal to the product of (i) the number of shares of the Issuer's common stock subject to such Issuer stock option and (ii) 0.788496037 (the "Parent Equity Conversion Ratio") (rounded down to the nearest whole ordinary share of ICON), with an exercise price equal to the quotient of (x) the exercise price of such Issuer stock option and (y) the Parent Equity Conversion Ratio (rounded up to the nearest whole cent), subject to the same terms and conditions (including vesting conditions) applicable to such Issuer stock option.
F7 Pursuant to the Merger Agreement, each outstanding award of restricted stock units of the Issuer as of immediately prior to the effective time of the merger was, at the effective time of the merger, converted into a number of restricted stock units of ICON equal to the product of (i) the number of restricted stock units of the Issuer and (ii) the Parent Equity Conversion Ratio, rounded down to the nearest whole ordinary share of ICON, subject to the same terms and conditions (including vesting conditions) applicable to such Issuer restricted stock units.
F8 Restricted stock units convert into the Issuer's common stock on a one-for one basis in an amount equal to one-third of the total amount per year on each anniversary of June 1, 2020, the grant date, subject to the holder's continued service through each vesting date.
F9 Restricted stock units convert into the Issuer's common stock on a one-for-one basis in an amount equal to one-third of the total amount per year on each anniversary of June 1, 2021, the grant date, subject to the holder's continued service through each vesting date.